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The elderly have always been a soft target for various kinds of scams. Precious metals, stocks, real estate, annuities. The list goes on and on. Anyone remember California City? My in laws bought into that scam in the 1960's. When my father in law passed, his wife gave her preacher $10K for investment in a mutual fund. Yeah, the preacher disappeared suddenly with all the cash after getting several church members to buy into this scam.
Knowledge is power. If you don't fully understand what you are "investing" in, keep your money. Unfortunately, many of the elderly have diminished mental capacity and are thus are easily convinced and vulnerable. There is no such thing as a "can't miss" investment or get rich quick outlet.
My honest opinion is the Lord will have the final judgement on these scammers.
Knowledge is power. If you don't fully understand what you are "investing" in, keep your money. Unfortunately, many of the elderly have diminished mental capacity and are thus are easily convinced and vulnerable. There is no such thing as a "can't miss" investment or get rich quick outlet.
My honest opinion is the Lord will have the final judgement on these scammers.